Hurdle Rate

Определение

A hurdle rate is the minimum return a fund must deliver to investors before managers earn carried interest, commonly around 8 percent in private funds.

Как это возникает в процессе рейза

Hurdles align incentives: GPs profit only after LPs receive their capital plus the preferred return.

Часто задаваемые вопросы

Do venture funds always have hurdle rates?

They are more universal in private equity; many VC funds have no hurdle, though LP pressure has made them more common.

How does a hurdle affect founder interactions?

Indirectly: funds behind on their hurdle late in life may push portfolio companies harder toward exits.

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